NB Bancorp, Inc. (NASDAQ:NBBK) to Issue Quarterly Dividend of $0.07

Key Points

• NB Bancorp declared a quarterly dividend of $0.07 per share, payable November 12 to shareholders of record October 29. The annualized dividend is $0.28 per share, representing a 1.3% yield.
• The company reported quarterly EPS of $0.60, slightly exceeding analysts’ $0.59 estimate, while revenue of $76.55 million fell short of the $77.30 million consensus forecast.
• NBBK shares opened at $22.37, with a market capitalization of approximately $980 million; institutional investors increased their positions, and CEO Joseph Campanelli purchased 2,000 shares.

NB Bancorp, Inc. (NASDAQ:NBBK - Get Free Report) announced a quarterly dividend on Thursday, October 15th. Stockholders of record on Thursday, October 29th will be given a dividend of $0.07 per share on Thursday, November 12th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, October 29th.

NB Bancorp Price Performance

Shares of NASDAQ:NBBK opened at $22.37 on Friday. The business's 50 day simple moving average is $22.55 and its 200-day simple moving average is $21.52. The firm has a market capitalization of $980.25 million and a price-to-earnings ratio of 11.71. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.06 and a quick ratio of 1.05. NB Bancorp has a 12 month low of $16.92 and a 12 month high of $23.47.

NB Bancorp (NASDAQ:NBBK - Get Free Report) last posted its earnings results on Thursday, October 15th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.01. The company had revenue of $76.55 million for the quarter, compared to the consensus estimate of $77.30 million. NB Bancorp had a return on equity of 9.13% and a net margin of 14.27%. As a group, equities analysts forecast that NB Bancorp will post 2.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Joseph Campanelli purchased 2,000 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $21.75 per share, with a total value of $43,500.00. Following the purchase, the chief executive officer directly owned 379,790 shares of the company's stock, valued at approximately $8,260,432.50. This trade represents a 0.53% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.10% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in NB Bancorp during the second quarter worth about $70,396,000. State Street Corp grew its holdings in NB Bancorp by 13.8% in the second quarter. State Street Corp now owns 1,471,766 shares of the company's stock valued at $31,098,000 after purchasing an additional 178,228 shares during the period. Tieton Capital Management LLC acquired a new position in NB Bancorp during the second quarter worth approximately $11,550,000. Dimensional Fund Advisors LP raised its stake in NB Bancorp by 81.4% during the first quarter. Dimensional Fund Advisors LP now owns 522,384 shares of the company's stock worth $11,006,000 after purchasing an additional 234,356 shares during the period. Finally, Sei Investments Co. raised its stake in NB Bancorp by 110.2% during the first quarter. Sei Investments Co. now owns 302,181 shares of the company's stock worth $6,367,000 after purchasing an additional 158,397 shares during the period.

NB Bancorp Company Profile

NB Bancorp, Inc is the bank holding company for Needham Bank, a community-oriented financial institution headquartered in Needham, Massachusetts. Through Needham Bank, the company provides banking and financial services to individuals, families, businesses, nonprofit organizations and municipalities.

Needham Bank offers deposit products, residential and commercial real estate lending, commercial and industrial loans, construction financing, consumer loans, cash-management services and other treasury-management solutions.

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